Gifts You can legally avoid Inheritance Tax by giving away gifts during your life. The rules around making gifts are tricky and will be strictly applied, so it’s important to speak to a professional for advice on your specific circumstances. If, for example, you should need to go into a care home, the...
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Tag Archives: make a will
Minimising Your Inheritance Tax Bill
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A few years ago, insurance company NFU Mutual analysed HM Revenue & Customs receipts and found that the average Inheritance Tax bill for the year 2018/19 was £199,000. £199,000! That’s a lot of money … By taking tax planning action in advance, it is possible to legitimately reduce the amount...
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The importance of the right advice when it comes to vulnerable relatives
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The importance of the right advice when it comes to vulnerable relatives When it comes to protecting vulnerable individuals it is important that people obtain the right advice. There are a range of options, with tax and inheritance implications where the right guidance can ensure vulnerable individuals are both protected...
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How to ensure your Will is valid during Cornona Virus Lockdown
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How to ensure your Will is valid during Corona Virus Lockdown Under UK law, a Will maker must sign their Will in the presence of two witnesses, over the age of 18, who then must also sign the Will to state they have witnessed the event. The two witnesses to...
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How Marriage Affects a Will
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It is estimated that 54% of people in the UK do not have a Will and of those who do, many do not know the affect getting married will have on what they have chosen to leave to their loved ones. Many do not wish to think or plan for...
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